Gulf Oil and Gas accountACCOUNT

SeaBird Exploration Trims Seismic Vessel Fleet

Source: www.gulfoilandgas.com 10/31/2016, Location: Europe

SeaBird Exploration announces that agreement has been reached for the sale and decommissioning of the vessel Hawk Explorer. The decommissioning of the vessel is a part of the company's efforts to reduce cost and adjust fleet capacity to better reflect current market demand. The company will retain the seismic equipment of the vessel.

On 1 September 2016, it was announced that the company entered into an agreement to purchase the Hawk Explorer and related equipment. The purchase contract also called for the cancellation of all future lease payments and additional obligations as required under the then prevailing charter agreement.

The purchase, the cancellation of the lease agreement and the subsequent sale of the vessel, is estimated to result in a net pre-tax loss of approximately USD 8.9 million in Q3 2016.

Seismic Energy Sources News in Cyprus >>

United Kingdom >>  6/1/2020 - Independent Oil and Gas plc (IOG), (IOG.L), as operator of its joint venture with CalEnergy Resources (UK) Ltd, is pleased to announce that it has awa...
Norway >>  5/26/2020 - Saipem has signed a two-year frame agreement with Equinor covering engineering services worldwide. The Frame Agreement encompasses feasibility and con...

United Kingdom >>  5/15/2020 - Petrofac Limited (“Petrofac”) is holding its Annual General Meeting. In an update to shareholders, Chief Executive Ayman Asfari will comment: ...

Related Categories: Downhole Completion Equipment  Downhole Drilling Tools  Downhole Survey  Earth Resistivity Meters  General  Line Locators/Electro-Magnetic  Seismic Energy Sources  Seismographs  Sensors  Well Logging  Well Testing Equipment 

Related Articles: Downhole Completion Equipment  Downhole Drilling Tools  Downhole Survey  Earth Resistivity Meters  General  Line Locators/Electro-Magnetic  Seismic Energy Sources  Seismographs  Sensors  Well Logging  Well Testing Equipment 


Cyprus Oil & Gas 1 >> 

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.